Food industry is a livelihood industry and a pillar industry of the national economy. Yantai is a big city of food industry, and its food industry chain and supply chain serve the whole country, among which Shandong Luhua Group has made contributions.

In 2020 and 2021, despite various difficulties such as the epidemic, Luhua Group has achieved sales revenue of 39 billion yuan and 43 billion yuan, an increase of 15% and 10.3%, and profits and taxes of 11.9 billion yuan in the past two years. In 2021, Luhua paid 2.14 billion yuan in taxes, an increase of 33% over 2020, of which 850 million yuan were paid in Yantai, an increase of 30% over the same period.

Luhua Group has developed more than 9 million mu of peanut planting bases in 13 provinces across the country, increasing the income of more than 10 million farmers. At present, Luhua, together with Shandong Peanut Research Institute and other scientific research institutes, has bred ten new varieties of high oleic acid peanut such as "Huayu 52" with an oleic acid content of 77.8% to 90%, and its yield per mu is 100 to 200 kg higher than that of the ordinary peanuts.